Interim Results

PERSIMMON PLC
31 August 1999

                                 PERSIMMON PLC
                                       
             INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 1999
                                       
Highlights

     Persimmon's best ever six months performance
     Record net pre-tax profit of £35.7m, (June 1998: £28.1m), an increase of
     27%
     Turnover of £317.6m (June 1998: £270.2m), an increase of 18%*
     Earnings per share of 13.9p (June 1998: 11.8p), an increase of 18%
     Operating profit of £41.1m (June 1998: £34.6m), an increase of 19%
     3,354 homes legally completed (June 1998: 3,117), an increase of 8%*
     Average selling price of £94,685 (June 1998: £86,685)
     Return on capital employed of 17.6% (June 1998: 16.5%), an increase of 7%
     Over 30,000 plots available for development
     Dividend of 3.5p (June 1998: 3.3p), an increase of 6%
     Gearing of 23%, (June 1998: 30%), reduced by 7%

*Excludes B.E.S. re-sales

Duncan  Davidson,  Chairman,  said:  'These  are  outstanding  results   which
represent Persimmon's best ever performance over six months.

'Demand for Persimmon homes remains very strong throughout the UK. Our forward
sales  are at a record level. We are confident that current profit levels  are
sustainable for the foreseeable future.'

ENQUIRIES:     Duncan Davidson, Chairman
               John White, Chief Executive
               Persimmon plc
               Tel: [phone] on Tuesday, 31 August 1999 only
               Tel: [phone] thereafter

               Michael Sandler/Justin Strong
               Hudson Sandler Limited
               Tel: [phone]


             INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 1999
                                       
CHAIRMAN'S STATEMENT

During the six months to 30 June 1999 Persimmon increased its net pre-tax
profit by 27 per cent to a record £35.7 million, from £28.1 million in the
first half of 1998.

We legally completed the sale of 3,354 homes (June 1998: 3,117) at an average
selling price of £94,685 (June 1998: £86,685), giving total turnover of £317.6
million (June 1998: £270.2 million).  These figures exclude B.E.S. re-sales.

In recent years we have incurred a lower corporation tax charge than the
statutory rate.  In 1998 the charge was 26 per cent, but from 1999 we expect
our effective rate of tax to be 30 per cent, loss reliefs arising from the
purchase of the Ideal business in 1996 having been fully utilised.  Despite
this higher tax charge we increased our earnings per share in the first half
by 18 per cent to 13.9p per share (June 1998: 11.8p).

We are increasing our interim dividend by 6.1 per cent to 3.5p per share.
This dividend will be payable on 29 October 1999 to shareholders on the
register at 10 September 1999.  As before we are offering a scrip dividend
alternative.

Our net borrowings at 30 June were £80 million giving a gearing level of 23%,
as compared with gearing of 30% in 1998.  Interest was covered 7.6 times
compared with 5.3 times for the first half of 1998.

During July 1999 Persimmon raised £96 million of 8-12 year loan notes through
the US Private Placement market, at attractive interest rates.  These
additional long term funds complement our existing debt financing, and
together they provide substantial resources for the further expansion of
Persimmon.

We have succeeded in maintaining our landbank at over 30,000 plots with
planning consent, throughout the UK.

Our new City Developments operation, which we announced in April, has recently
acquired sites in London, Bristol, Birmingham, Manchester and Glasgow.  We now
have 10 sites across the UK which will be developed as inner-city schemes,
creating 600 new apartments producing future sales revenue in excess of £120m.
We are very confident of the success of this new venture.

Demand for Persimmon homes remains very strong throughout the UK.  Our forward
sales are at a record level.  We continue to concentrate on improving our
profitability and returns, our return on capital employed having improved
further to 17.6% to June 1999 (June 1998: 16.5%).  We are confident that
current profit levels are sustainable for the foreseeable future.

Our preparations to ensure the business of Persimmon continues to run smoothly
on the run up to the millennium and thereafter are well progressed, all live
internal systems being year 2000 compliant.

We have strengthened our Board by the appointment of David Thompson as a Non-
Executive Director.  David is Managing Director of Wolverhampton & Dudley
Breweries PLC, and we welcome him to Persimmon.

I thank everyone on the Persimmon team for their considerable efforts in
achieving these record results.

Duncan Davidson
31 August 1999

PERSIMMON PLC
CONSOLIDATED PROFIT AND LOSS ACCOUNT (UNAUDITED)

                             Six months     Six months       Year to
                             to 30 June     to 30 June   31 December          
                                   1999           1998          1998
                       Note        £000           £000          £000

Turnover                        324,954        281,106       572,407
Cost of sales                  (271,635)      (235,344)     (478,849)
                             ----------    -----------      ---------
Gross profit                     53,319         45,762        93,558

Net operating expenses          (12,193)       (11,175)      (20,336)
                             ----------    -----------      ---------
Operating profit                 41,126         34,587        73,222

Net interest payable and
 similar charges                 (5,443)        (6,505)      (12,689)
                             ----------    -----------      ---------
Profit on ordinary activities
 before taxation                 35,683         28,082        60,533
Tax on ordinary activities      (10,705)        (7,021)      (15,738)
                             ----------    -----------      ---------
Profit on ordinary activities
 after taxation                  24,978         21,061        44,795
Dividends                        (6,323)        (5,880)      (18,548)
                             ----------    -----------      ---------
Retained profit                  18,655         15,181        26,247
                             ----------    -----------      ---------

Basic earnings per share  4        13.9p          11.8p         25.1p

Diluted earnings per
 share                    4        13.9p          11.8p         25.1p

Dividend per share                  3.5p           3.3p         10.4p

PERSIMMON PLC
CONSOLIDATED BALANCE SHEET (UNAUDITED)

                                30 June  30 June   31 December
                                   1999     1998          1998
                                   £000     £000          £000
Fixed assets
Tangible assets                  10,866   10,492        10,569
                             ----------  --------  ------------
Current assets
Stocks and work in progress     628,976  534,795       558,865
BES assets                            -   14,065        14,065
Debtors                          44,738   33,545        41,391
Cash at bank and in hand          3,004       45           184
                             ----------  --------  ------------
                                676,718  582,450       614,505
                             ----------  --------  ------------
Creditors due within one year
Borrowings                      (14,545) (17,399)      (15,809)
BES advances                          -  (18,566)      (19,128)
Other creditors               (222,152) (142,892)     (169,718)
                             ---------- ---------  -----------
                              (236,697) (178,857)     (204,655)
                             ---------- ---------  -----------
Net current assets              440,021  403,593       409,850
                             ---------- ---------  -----------
Total assets less current
 liabilities                    450,887  414,085       420,419
                             ---------- ---------  -----------
Creditors due after more
 than one year
Borrowings                      (68,390) (76,240)      (81,270)
Other creditors                 (39,146) (28,767)      (18,403)
                             ----------  --------  ------------
                               (107,536)(105,007)      (99,673)
                             ----------  --------  ------------
Net assets                      343,351  309,078       320,746
                             ----------  --------  ------------
Capital and reserves
Called up share capital          18,052   17,838        17,873
Share premium account           199,277  197,809       197,920
Merger reserve                    3,123    3,123         3,123
Revaluation reserve               1,242    1,242         1,242
Profit and loss account         121,657   89,066       100,588
                             ----------  --------  ------------
Equity shareholders' funds      343,351  309,078       320,746
                             ----------  --------  ------------

Net assets per share              190.2p   173.3p        179.5p
                             -----------  -------  ------------

PERSIMMON PLC
CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED)

                             Six months     Six months         Year to
                            to 30 June      to 30 June     31 December
                                  1999            1998            1998
                         Note     £000            £000            £000

Net cash inflow from
 operating activities      2    36,454             646         18,014
                            ----------       ----------     ----------
Return on investments and servicing of
 finance
Interest received                   58              69            153
Interest paid                   (4,891)         (6,165)       (11,970)
Interest paid on finance leases   (192)           (139)          (349)
                            ----------       ----------     ----------
                                (5,025)         (6,235)       (12,166)
                            ----------       ----------     ----------
Taxation
UK corporation tax
 received/(paid)                 2,344          (4,538)        (8,790)
                            ----------       ----------     ----------
Capital expenditure
Purchase of tangible
 fixed assets                   (1,403)           (380)          (655)
Sale of tangible fixed assets      106              78            745
                            ----------       ----------     ----------
                                (1,297)           (302)            90
                            ----------       ----------     ----------
Acquisitions and disposals
Acquisition of businesses
 and subsidiaries               (5,479)         (1,700)       (6,578)
                            ----------       ----------     ----------

Equity dividends paid          (10,419)        (11,843)      (17,320)
                            ----------       ----------     ----------
Net cash inflow/(outflow)
 before management of
 liquid resources
 and financing                 16,578          (23,972)      (26,750)
                            ---------        -----------    ----------
Financing
Bank loans advanced           165,020          107,000       187,030
Repayment of bank loans      (176,300)         (87,000)     (162,000)
Exercise of share options       1,536              208           208
Repayment of principal under
 finance leases                (1,150)          (1,505)       (2,028)
                            ---------        -----------    ----------
Net cash (outflow)/inflow
 from financing               (10,894)          18,703        23,210
                            ---------        -----------    ----------
Increase/(decrease) in cash 3   5,684           (5,269)       (3,540)
                                ======            ======       ======

Notes

1.Accounting policies
  The interim financial information has been prepared on the basis of the
  accounting policies set out in the financial statements for the year ended
  31 December 1998.  In addition, the group has adopted Financial Reporting
  Standard ('FRS') 12 (Provisions, Contingent Liabilities and Contingent
  Assets) and FRS 13 (Derivatives and other Financial Instruments:
  Disclosures).  The adoption of these new standards has not impacted upon
  this interim statement.

2.Reconciliation of operating profit to net cash inflow from operating
  activities

                           Six months     Six months          Year to
                           to 30 June     to 30 June      31 December
                                 1999           1998             1998
                                 £000           £000             £000

  Operating profit             41,126         34,587           73,222
  Depreciation charge           1,224          1,031            2,228
  Profit on sale of fixed assets   (6)            (4)             (58)
  LTIP charge                     150              -              200
  Increase in stocks and work
   in progress and BES assets (59,276)       (46,741)         (71,231)
  (Increase)/decrease in
   debtors                     (3,537)         2,964           (7,679)
  Increase in creditors        56,773          8,809           21,332
                           ----------       ----------       ----------
  Net cash inflow from operating
   activities                  36,454            646           18,014
                               ======          ======          ======

3.Reconciliation of net cash flow to net debt

                           Six months     Six months          Year to
                           to 30 June    to  30 June      31 December
                                 1999           1998             1998
                                 £000           £000             £000

  Increase/(decrease) in cash   5,684         (5,269)          (3,540)
  Decrease/(increase) in debt
   and lease finance           12,430        (18,495)         (23,002)
                           ----------       ----------       ----------
  Decrease/(increase) in net
   debt from cash flows        18,114        (23,764)         (26,542)
  New finance leases             (218)        (1,430)          (3,042)
                           ----------       ----------       ----------
  Decrease/(increase) in
   net debt                    17,896        (25,194)         (29,584)
  Net debt at beginning
   of period                 (102,710)       (73,126)         (73,126)
                           ----------       ----------       ----------
  Net debt at end of period   (84,814)       (98,320)        (102,710)
                               ======         ======           ======

  Analysed as:

  Cash at bank and in hand      3,004             45              184
  Bank overdrafts              (6,645)       (11,099)          (9,509)
  Bank loans                  (39,940)       (39,890)         (44,920)
  US senior loan notes        (36,350)       (42,650)         (42,650)
  Finance leases               (4,883)        (4,726)          (5,815)
                           ----------       ----------       ----------
  Net debt at end of period   (84,814)       (98,320)        (102,710)
                               ======          ======          ======
4.Earnings per share
  The calculation of earnings per share is based on earnings after taxation
  of £24,978,000 (six months to 30 June 1998: £21,061,000 and year ended 31
  December 1998: £44,795,000) and 179,085,267 ordinary shares (30 June 1998:
  178,007,080 and 31 December 1998: 178,134,131) being the weighted average
  number of ordinary shares in issue during the period.

  Diluted earnings per share is calculated by dividing earnings after
  taxation by the weighted average number of ordinary shares in issue for the
  period, adjusted for the dilutive effect of shares held under unexercised
  options.  The weighted average number of ordinary shares so calculated is
  180,247,980 (30 June 1998: 178,709,907 and 31 December 1998: 178,578,294).

5.Year 2000
  To minimise the risk that the group's operations will be affected by the
  year 2000 date change, a project team was established at the start of 1998
  to review our computer systems and suppliers.  All live internal computer
  systems have now been verified as compliant at minimal cost.  We are
  currently implementing new computer systems to support the business well
  into the new millennium.  We have adopted a continual process of millennium
  compliance testing.  Management have also sought assurances and
  confirmation that all key suppliers will be able to service our business
  needs.  Where satisfactory assurances have not been forthcoming management
  are considering our relationship with them.  The project team continues to
  monitor the situation and contingency plans will be put in place to support
  the business before, on and after 31 December 1999.

6.The figures for the half years to 30 June 1999 and 30 June 1998 are
  unaudited.  The figures included in the Profit and Loss Account for the
  year to 31 December 1998, the Balance Sheet at 31 December 1998 and the
  Cash Flow Statement for the year to 31 December 1998 are extracts from the
  latest published accounts which have been delivered to the Registrar of
  Companies.  The report of the auditors on those accounts was unqualified.

7.This interim statement is being sent to all shareholders and is available
  upon request from the Company Secretary, Persimmon plc, Persimmon House,
  Fulford, York YO19 4FE.